My German made car just turned 30,000 miles. I notice the ashtray is full. Time to upgrade!
I saw photos of Chinese motorists returning to Bejing from Holiday. Traffic was jammed up and not moving. The freeway was 50 lanes wide. What if you are in the right lane and want to turn left?
High school football conference games are nearing an end. Next week Grandson Dominic will play his last football game as a senior. Grandson Mitchell (also a senior) moves on to the State playoffs.
More on Money Tip #1 (Saving). You only achieve true saving when you put money into your permanent “piggybank”. If you buy a Green Bay Packer jacket for $350, but it was marked down to $200, you think you’ve saved $150. No! You’ve spent $200. If you actually take the money you avoided spending and put it in “savings”, then you’ve saved $150. Saving is a tricky thing.
In retirement circles there is this financial acronym RMD. It stands for “required minimum distribution”. After age 70.5, you must withdraw from your 401k, 403b, or IRA retirement accounts. Each year after 70.5 the percentage of the total you need to withdraw gets greater. It begins at 4.5% of the hard earned money you’ve set aside. It is taxable. There is a nasty penalty if you don’t withdraw the required amount. Your Mom and I are both over 70.5. I wonder if we can get sent to jail.
Tomorrow should be a glorious Saturday. Enjoy.
Love,
Dad